123jump.com Staff
09 Oct, 2008
New York City
Banks in UK are likely to tap as much as
123jump.com Staff
09 Oct, 2008
New York City
Hong Kong market averages rebounded from sharp declines on Wednesday as financial and realty stocks advanced on interest rate cuts in the region. Gains were limited as the interbank rates remained steady but near its record level, despite a rate cut by Hong Kong and China.
123jump.com Staff
09 Oct, 2008
New York City
Stocks in Australia shrugged of a series of interest rate cuts in the region and closed lower after unemployment rate increased in September and global economic worries dominate the economy. The Reserve Bank of Australia injected A$3.49 billion into the money markets today.
123jump.com Staff
09 Oct, 2008
New York City
Japan stocks trade lower despite interest rate cuts by central banks in the region. China lowered rates and bank cash reserve requirements, Korea lowered rates and India relaxed bank reserve ratio. Australia few days ago lowered days by full one percentage point. Machinery orders in Japan fell.
123jump.com Staff
09 Oct, 2008
New York City
Stocks plunge as investors lose confidence in the bank bailout plan and interbank lending remains tight. Of the stocks in S&P 500 index, 22 increased, 477 declined and 1 was unchanged. Of the index stocks, 5 rose more than 3% and 403 fell more than 3%. And 91 stocks plunged more than 10%.
123jump.com Staff
09 Oct, 2008
New York City
The New York Fed was forced to lend additional $37.8 billion to the fallen insurance giant AIG after its securities lending division faced a barrage of cash calls. Of the $85 billion loan issued by the Fed, $61 billion has already been used and more money may be needed to meet cash requirements.
123jump.com Staff
09 Oct, 2008
New York City
Stock in New York reversed the earlier gains and fell 1%. IBM reported better than expected earnings and guided 22% rise in the current fiscal year earnings. Interbank lending remains tight and rate hovered bear 5%, despite global rate cut.
123jump.com Staff
08 Oct, 2008
New York City
Stocks in Australia plummeted sharply on the weaknesses in the global economy as the International Monetary Fund forecasted that the losses on U.S. based loans and securities might rise to $1.4 trillion. The benchmark index in Australia dropped 5%.
123jump.com Staff
08 Oct, 2008
New York City
China and Hong Kong lowered key lending rates in lock steps with the Fed led coordinated to move to lower rates. HK lowered rates by 0.5% and China dropped lending rate by 0.27% for 1-year or longer dated maturities. In trading, benchmark stock indexes in Hong Kong plunged 8% and in China 3%.
123jump.com Staff
08 Oct, 2008
New York City
The global markets continue to reel under the widening banking crisis and weak confidence in the investor community. Stocks in New York, Europe and Asia continue to drift lower. The central bankers in the U.S., Europe, china other countries lower rate to improve liquidity.
123jump.com Staff
08 Oct, 2008
New York City
UK offered up to
123jump.com Staff
08 Oct, 2008
New York City
Rupee in Mumbai trading fell near five-year low and is likely to trade below record set in June of 2002. Rising trade and current account deficit and lack of interest from foreign investors has battered stocks and rupee. Sensex index dropped 3% and has lost nerly 50% from the peak in January.
123jump.com Staff
08 Oct, 2008
New York City
Stewart Enterprises plunges 25% after the rival Service Corp withdrew the offer. Merrill Lynch falls on the worries that current quarter loss will be wider than expected. Bank of America drops on $10 billion capital raising plan. MetLife plans secondary offering.
123jump.com Staff
08 Oct, 2008
New York City
Japan stocks plunged in a record one-day loss since 1987. Rising bankruptcies, worries related to banking sector health and falling profits from automakers dragged markets lower. Toyota dived 11% after media reports suggested 40% fall in profit for the current year.
123jump.com Staff
08 Oct, 2008
New York City
The Fed in a coordinated move with five other central banks lowered its key lending rate. The move comes after the Fed became the lender in the commercial paper market and offering nearly $900 billion in short term lending and expanding several times lending facility this year.
